LME aluminum price remains high due to uncertainty from Russia-Ukraine crisis
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Update time : 2022-02-24 18:06:23
Due to the investors took a careful stance after a series of Western sanctions against Moscow raised the worries of a disruption in Russian exports, aluminum price on the London Metal Exchange (LME) maintained close to the highest levels in 13 years.
According to report, the US, EU and Britain declared their plans to target Russian banks and elites, at the same time, the Germany stopped a major gas pipeline project from Russia near Ukraine borders. They mentioned to go further if Russian troops go further.
Based on the view from the market, although aluminum and nickel are particularly vulnerable to a more severe escalation and sanctions package, no European country is incentivized to pursue such a course of action, particularly given inflationary concerns, unless absolutely necessary.
